HCL retains double-digit revenue growth outlook

New Delhi, Jan 24 (IANS) Global software major HCL Technologies Ltd has retained its annual double-digit revenue growth for fiscal 2016-17 in dollar terms.

In a regulatory filing to the stock exchanges, the Noida-based outsourcing firm said revenue for this fiscal (FY 2017) would grow 10-12 per cent in dollar terms based on the December 31 exchange rates.

“We expect our FY2017 revenue to be in the middle of this (10-12 per cent) range,” said the filing.

The company had earlier guided revenue to grow 12-14 per cent, based on the average exchange rates of fiscal 2015-16.

“The acquisitions and Intellectual Property-led partnerships during the third quarter are likely to contribute 0.6-1 1.0 per cent in revenues depending upon the date of consummation of Geometric deal,” noted the filing.

The operating margin – earnings before interest and tax (Ebit) is expected to be 19.5-20.5 per cent post-acquisitions.

“We expect the margin to be in the same range for the fourth quarter (January-March) of FY 2017,” added the filing.

–IANS

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